E: dpeterson@burkhartpeterson.com / T: (210) 377-3311

Tax Consulting & Planning

General Tax Planning:

We are here to help our business and individual clients pay the lowest amount of taxes allowable by law by implementing ways to legitimately minimize taxes throughout the year. In general, we can recommend a variety of tax saving strategies that are aimed to help you reduce taxes on your income so you keep more of what you make and to defer income so you can keep your money now and pay less taxes later.

Year-End Tax Planning:

Year-end tax planning services may allow us to reduce your tax burden. Specific year-end tax-savings strategies may include things like:

  • Splitting income among several family members or legal entities in order to get more of the income taxed in lower bracket;
  • Legitimately shifting income or expenses from one year to another in order to have them fall where it will be taxed at a lower rate;
  • Deferring tax liabilities through certain investment choices such as pension plans, contributions and other similar plans;
  • Recommending certain investments to produce income that is tax exempt from either federal or state or both taxing entities; and
  • Finding tax deductions by structuring your money to pay for things you enjoy, such as a vacation home.

Tax Planning for a Major Transaction:

Perhaps the most important time to provide tax planning is in advance of conducting a large or complex transaction. Before making a unique or material transaction, you should understand all the tax ramifications before you proceed. By considering tax implications in advance of conducting a transaction, a taxpayer can often times find a way to defer tax consequences into the future instead of being taxed today. If you conduct a transaction without considering tax planning concepts in advance, it could cost you thousands of dollars in additional taxes!

If you believe you may benefit from year-end tax planning services or you have a major transaction upcoming on the horizon, please contact our office to discuss the tax planning services that we provide!

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